Invesco Ltd. Boosts Stock Holdings in GameStop Corp. $GME

Invesco Ltd. grew its position in shares of GameStop Corp. (NYSE:GME) by 12.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 657,703 shares of the company’s stock after buying an additional 71,946 shares during the quarter. Invesco Ltd. owned 0.15% of GameStop worth $14,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GME. D. E. Shaw & Co. Inc. grew its holdings in shares of GameStop by 606.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company’s stock valued at $51,735,000 after buying an additional 1,417,156 shares during the last quarter. Northern Trust Corp grew its holdings in shares of GameStop by 26.2% during the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company’s stock valued at $99,389,000 after buying an additional 659,345 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of GameStop by 42.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,036,589 shares of the company’s stock valued at $32,487,000 after buying an additional 307,903 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in GameStop in the 4th quarter worth about $8,317,000. Finally, Dimensional Fund Advisors LP raised its position in GameStop by 22.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,329,965 shares of the company’s stock worth $41,703,000 after buying an additional 245,347 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush raised GameStop to a “strong sell” rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell” and an average price target of $13.50.

GameStop Trading Up 1.4%

Shares of NYSE:GME opened at $22.8850 on Friday. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 49.75 and a beta of -0.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.89 and a current ratio of 8.39. The stock’s 50-day simple moving average is $23.16 and its two-hundred day simple moving average is $25.21. GameStop Corp. has a 52-week low of $19.31 and a 52-week high of $35.81.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.13. The business had revenue of $732.40 million for the quarter, compared to analysts’ expectations of $754.23 million. GameStop had a return on equity of 5.25% and a net margin of 5.67%.The business’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share. Analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insider Transactions at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,055 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total value of $267,309.90. Following the transaction, the general counsel directly owned 116,781 shares of the company’s stock, valued at approximately $2,823,764.58. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 13,075 shares of company stock valued at $315,685 over the last 90 days. Company insiders own 8.58% of the company’s stock.

GameStop Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.